Sand Trap For Oil & Gas Market To Grow With an Impressive CAGR During The Forecast Period
Global Sand Trap For Oil & Gas Market is driven by increasing
demand for petroleum products in clearer form, in the forecast period, 2023-2027.
According
to TechSci Research report, “Sand Trap For Oil & Gas Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2017-2027”, The
global sand trap for oil & gas market may show a robust growth in the
forecast years, 2023-2027 with an anticipated CAGR value. The market growth can
be attributed to the factors like growing demand for the cleaner crude oil
production. Rapidly increasing demand for the oil and petroleum products is
further driving the growth of the global sand trap for oil & gas market in
the upcoming five years. Drilling equipment and related safety equipment and
tool are highly sophisticated and require specific designing and manufacturing.
Increasing demand for such sophisticated tools cannot be fulfilled by other
equipment and tools and thus support the growth of the global sand trap for oil
& gas market. Oil reservoirs are often present in fragile environment or in
areas where excavation of oil is not simple. After the drilling is conducted in
such environment, produced crude oil often carries slurry and mud with it. To
separate the mud a sand trap is setup just beside the shaker, thus providing
cleaner crude oil.
Dependency
of major economies over the oil and gas production further leads the growth of
the global sand trap for oil & gas market in the future five years.
Increasing number of market players, increasing investment from the government,
private fundings, along with the favorable schemes from the government toward
oil production and the industry further aids the growth of the global sand trap
for oil and gas market in the forecast years, until 2027.
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The
global sand trap for oil & gas market segmentation is based on type,
application, well type, regional distribution, and competitive landscape. Based
on type, the market is divided between gravity and centrifugal. Gravity
sub-segment is anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years on the account of its
prolonged life and cost efficiency. This gravity equipment provides good
separation of mud from the oil across a wide range of flow regimes and
operating pressures. These gravity sand traps have no mobile parts but still
has long years of operations and requires minimum maintenance. Centrifugal type
of sand trap is complicated equipment utilized for the sand separation. The
basic principle of the functioning of this type of sand trap is that it works
on the centrifugal force. The process traps mud and sand and heavier slurry at
the bottom of the pit and moves cleared oil to the top. Due to the complexity
of the equipment and difficult maintenance, the machinery is comparatively less
preferred.
Well
type segment of the market is also fragmented into horizontal and vertical well
type. Horizontal well type may lead the market segment in the upcoming five
years and assert their dominance in the upcoming five years since horizontal
well types require sand traps more as the oil drilling in the horizontal wells
carry higher content of slurry along with the oil. Difficulty in the oil
excavation from the horizontal wells further substantiated the growth of the
global sand trap for oil and gas market in the next five years.
Some
of the market players, dominating the global market are:
- National Oilwell Varco
- Sunry Petroleum Equipment Co. Ltd.
- Cajun energy, Novomet
- Forum Energy Technologies Inc.
- Kasravand Co.
- RK Industries LLC
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“North America is anticipated to
dominate the market segment with largest revenue shares in the upcoming five
years due to increasing demand for the oil and gas. Increasing number of
onshore oil rigs is further supporting the growth of the market in the region.
Oil reserves in the United States, and Mexico also has increased capacity, and
the difficult terrain demands for the sand traps, mostly in the Gulf of Mexico
region, thus aiding to the growth of the global sand trap for oil & gas
market in the next five years. New market players may focus on the consistent
research and advanced product development for their brand establishment.
Increasing investment for the product development would also aid in the future
endeavors,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Sand Trap For Oil &
Gas Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027, Segmented By Type
(Gravity, Centrifugal), By Application (Cased Hole, Open Hole), By Well Type
(Horizontal, Vertical), By Region”, has evaluated the future
growth potential of global sand trap for oil & gas and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global sand trap for oil & gas market.
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